January can be an expensive market for football clubs. Sellers are reluctant to lose their best players mid-season, often demanding a premium to part with those in-demand.
There’s been some huge money spent in past winter windows and we’ve remembered the most expensive January transfers of all time.
All fees before potential add-ons.
Antoine Semenyo's switch to the Etihad this month has seen the winger enter this list. Manchester City have paid an initial £62.5m for the 26-year-old, potentially rising to £64m.
City secured the signing of Semenyo ahead of significant Premier League competition, following an excellent period for the Ghana international at Bournemouth.
Semenyo scored 10 league goals over the first half of the 2025-26 season, with only two Premier League players netting more.
5. Jhon Duran - Aston Villa to Al-Nassr, 2025 (£64m)
Jhon Duran became the Saudi Pro League’s latest headline capture in 2025. The Colombian centre-forward was in demand after a brilliant start to the season at Aston Villa, where he had scored 12 goals in all competitions despite limited football.
Duran averaged a goal every 87 minutes in 2024-25, which persuaded Al-Nassr to spend big on his services. He united with Cristiano Ronaldo in Saudi Arabia and scored 12 times in 18 appearances. However, after just six months, he was allowed to leave on loan for Fenerbahce.
4. Dusan Vlahovic - Fiorentina to Juventus, 2022 (£66.6m)
Juventus won the race to sign Dusan Vlahovic in 2022, beating competition from Arsenal to land the Serbian striker. Vlahovic had exploded onto the scene the previous season with 21 league goals, before firing 17 in just 21 games for Fiorentina in 2021-22.
Juventus raided their rivals to land Vlahovic, who started brightly in Turin but has endured mixed fortunes since. He has scored 64 goals in 162 games, and was named Serie A’s Best Striker in 2023-24, but has not convinced all at the Old Lady. His current contract expires at the end of the season.
3. Virgil van Dijk - Southampton to Liverpool, 2018 (£75m)
Liverpool hastily retreated from a pursuit of Virgil van Dijk in 2017, amid accusations from Southampton that the Reds had tapped up the defender. Fast forward six months, and with an apology issued, Liverpool returned with a record-breaking bid.
The £75m fee made Van Dijk the most expensive defender of all time, though it proved to be a ground-breaking moment for Jurgen Klopp’s side. Van Dijk’s arrival transformed the spine of the season, leading to Champions League success in 2019 and a drought-breaking Premier League crown a year later.
His time at Liverpool has delivered nine trophies, including two league titles, alongside individual acclaim that includes the 2018/19 PFA Player of the Year award.
2. Enzo Fernandez - Benfica to Chelsea, 2023 (£106.8m)
Major tournaments have a habit of inflating player price tags, and Benfica certainly demanded a handsome return for Enzo Fernandez in 2023.
Fresh from winning the Best Young Player award as part of Argentina’s World Cup-winning team in Qatar, Fernandez found himself a target for top teams. Chelsea decided to activate the £106.8m release clause in his contract, leaving Benfica powerless to prevent his exit.
The Argentine has grown into an important part of the Chelsea team, winning the Conference League and Club World Cup in 2024-25. At 24, he’s already a leader for the Blues.
1. Philippe Coutinho - Liverpool to Barcelona (£119m)
The exact numbers behind Philippe Coutinho’s move to Barcelona are unconfirmed, though what’s unquestionable is that it was a record-breaking deal.
Liverpool’s ‘Little Magician’ looked a perfect fit for Barcelona, after five seasons at Anfield that brought no shortage of twinkle-toed moments and jaw-dropping goals.
The Spaniards smashed their transfer record to sign Coutinho in a deal that could have reached £142m with add-ons. It’s unlikely the vast majority of those were achieved, however, as Coutinho faded following a bright start to fall out of favour.
He joined Bayern Munich on loan in 2019-20, where he won a treble, but otherwise struggled to replicate his best level after leaving Liverpool.
Now 33, he’s back at first club Vasco de Gama, after short stints with Aston Villa and Qatari side Al Duhail.